Bayer to acquire Monsanto in all cash transaction

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Tata Motors gains after Jaguar Land Rover reports best ever November retail sales

Dec 08,2016

The announcement was made during market hours today, 8 December 2016.

Meanwhile, the S&P BSE Sensex was up 453.01 points or 1.73% at 26,689.88.

On the BSE, 6.28 lakh shares were traded on the counter so far as against the average daily volumes of 5.99 lakh shares in the past two weeks. The stock had hit a high of Rs 464.80 and a low of Rs 449 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

The stock had underperformed the market over the past one month till 7 December 2016, falling 12.23% compared with the Sensexs 4.45% fall. The scrip had also underperformed the market in past one quarter, declining 24.24% as against the Sensexs 9.3% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors said that Jaguar Land Rover (JLR) reported 2% rise in total sales to 47,588 vehicles in November 2016 over November 2015.

Jaguar recorded its best November ever, with retail sales rising 83% to 14,613 vehicles in November 2016 over November 2015, driven by continuing strong sales of the new XF and the F-PACE. Calendar year-to-date sales for Jaguar were 132,381, up 75% year-on-year.

Land Rover recorded November sales of 32,975 vehicles, down 14% over November 2015, as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport were offset by lower volumes of the discontinued Land Rover Defender and outgoing Discovery. Calendar year-to-date sales for Land Rover reached 395,556 vehicles, 9% up on the prior year.

Indiabulls Real Estate surged 6.72% to Rs 72.25 at 13:55 IST. The stock topped the gainers in the BSEs A group. On the BSE, 9.41 lakh shares were traded on the counter so far as against the average daily volumes of 15.55 lakh shares in the past two weeks.

BEML jumped 5.71% at Rs 913.25. The stock was second biggest gainer in A group. On the BSE, 85,000 shares were traded on the counter so far as against the average daily volumes of 22,000 shares in the past two weeks.

Jain Irrigation Systems gained 5% to Rs 90.25. The stock was the third biggest gainer in A group. On the BSE, 5.19 lakh shares were traded on the counter so far as against the average daily volumes of 7.24 lakh shares in the past two weeks.

Bharat Forge gained 4.86% at Rs 960.50. The stock was the fourth biggest gainer in A group. On the BSE, 1.99 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past two weeks.

Havells India rose 4.71% to Rs 346.55. The stock was the fifth biggest gainer in A group. On the BSE, 66,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks.

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Cabinet approves Reforms to Boost Employment Generation and Exports in the Made-ups Sector

Dec 08,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the reforms to boost employment generation and exports in the Made-ups Sector.

The following interventions have been approved in a time bound manner within the approved budget of Rs. 6,006 crore for the apparel package with the objective of creating large scale direct and indirect employment of upto 11 lakh persons over the next three years in the made-ups sector:-

1. Providing production incentive through enhanced Technology Upgradation Fund Scheme (TUFS) subsidy of additional 10% for Made-ups similar to what is provided to garments based on the additional production and employment after a period of 3 years.

2. Extension of Pradhan Mantri Paridhan Rozgar Protsahan Yojana (PMPRPY) Scheme (for apparel) to made-ups sector for providing additional 3.67% share of Employers contribution in addition to 8.33% already covered under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) for all new employees enrolling in EPFO for the first three years of their employment as a special incentive to Made-ups sector

3. Extension of Rebate of State Levies (ROSL) (for apparel) Scheme to made-ups sector for enhanced Duty Drawback on exports of Made-ups.

(ii) Making employees contribution to EPF optional for employees earning less than Rs 15,000 per month.

The interventions are expected to boost employment in the textile sector and create employment for upto eleven lakh persons, lead to increase in exports and enhance benefits to the workers in the textile and apparel sector.

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the expansion of the mandate of Delhi Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF Trust) and its re-designation as National Industrial Corridor Development & Implementation Trust (NICDIT) for integrated development of Industrial Corridors with permission to utilize financial assistance already sanctioned and sanction of additional amount of Rs.1584 crore within extended period up to 31 March 2022.

There is an existing approval for expenditure of Rs. 18,500 crore, out of which the unspent balance yet to be released to DMIC-PITF will be utilised by NICDIT. A further sum of Rs. 1584 crore for project development activities of four additional corridors and NICDITs administrative expenses upto 31 March 2022 has been provided.

NICDIT would be an apex body under the administrative control of DIPP for coordinated and unified development of all the industrial corridors in the country. It will channelize Gol funds as well as institutional funds while ensuring that the various corridors are properly planned and implemented keeping in view the broad national perspectives regarding industrial and city development, and will support project development activities, appraise, approve and sanction projects. It will coordinate all central efforts for the development of Industrial Corridor projects and will monitor their implementation.

DMICDC will function as a knowledge partner to NICDIT in respect of all the Industrial Corridors in addition to its present DMIC work, till Knowledge Partner(s) for other Industrial Corridors are in place.

An Apex Monitoring Authority under the chairpersonship of the Finance Minister will be constituted to periodically review the activities of NICDIT and progress of the projects. It will consist of Minister-in-charge of Ministry of Commerce & Industry, Minister of Railways, Minister of Road Transport & Highways, Minister of Shipping, Vice-Chairman of NITI Aayog and Chief Ministers of States concerned as Members.

The Board of Trustees of NICDIT will consist of (i) Chairperson - Secretary, DIPP, (ii) Secretary, Department of Expenditure, (iii) Secretary, Department of Economic Affairs, (iv) Secretary, Road Transport & Highways, (v) Secretary, Shipping (vi) Chairman, Railway Board, (vii) CEO, NITI Aayog, and (viii) Member Secretary, who will act as full time CEO of NICDIT. CEO, DMICDC will also function as Member Secretary/ CEO of the NICDIT.

The formation of the NICDIT will enable development and implementation of Industrial Corridor Projects across India by bringing in holistic planning and development approach and sharing the learning from development of Industrial Corridors, which will enable innovation in areas such as planning, design development and funding of such projects. This will help enhance the share of manufacturing in the country, attract investment in manufacturing and service industry sectors, which will have a catalytic effect on up-gradation and development of skills of the workforce and generation of employment opportunities.

Details and progress of schemes already running:

(i) Delhi Mumbai Industrial Corridor (DMIC) is the first such Industrial Corridor, approved by the Union Cabinet in 2011 with a grant of Rs. 17,500 crore as Project Implementation Fund, and an additional corpus of Rs. 1000 Crore for Project Development activities, to be provided over a period of five years for seven industrial cities in Phase-I of the project, Government of Japan has committed US$ 4.5 billion investment in the first phase of DMIC project.

Construction work in four industrial cities/townships namely, Dholera Special Investment Region (DSIR) near Ahmedabad in Gujarat, Shendra- Bidkin Industrial Park near Aurangabad in Maharashtra, Integrated Industrial Township Project, Greater Noida in Uttar Pradesh and Integrated Industrial Township Vila-am Udyogpuri near Ujjain in Madhya Pradesh. Other Projects under DMIC are at different stages of project planning and development.

(iii) Bengaluru Mumbai Economic Corridor (BMEC):- State Government of Karnataka has identified Dharwad Node for Development. The Government of Maharashtra has given in principle approval for Development of a node in Sangli or Solapur Districts.

(iv) Amritsar-Kolkata Industrial Corridor (AKIC) will use Eastern Dedicated Freight Corridor (EDFC) of Railways as the backbone and the highway system that exist on this route. It is planned in such a way that there would be Integrated Manufacturing Clusters (IMCs) in each of the Seven State namely Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand and West Bengal.

The BMEC and AKIC projects are at early stages of project development.

(v) Vizag Chennai Industrial Corridor (VCIC):- In compliance of the commitment made by the Central Government in the Andhra Pradesh Reorganization Act, 2014, it was decided by the Department of Economic Affairs, Government of India that Asian Development Bank (ADB) which had been getting a feasibility study done in r/o East Coast Economic Corridor (ECEC) will also take up the study of VCIC as Phase I of ECEC. ADB team has since submitted the final report regarding Conceptual Development Plan (CDP) of VCIC. The process of Master Planning of the four nodes namely, Vishakhapalnam, Machilipatnam, Donakonda and Srikalahasti-Yerpedu of Andhra Pradesh, as identified by ADB in their CDP commenced in March 2016 and is likely to be completed by March 2017.

Background

To accelerate the growth in manufacturing and for ensuring scientifically planned urbanization, Government of India (Gol) has adopted the strategy of developing integrated Industrial Corridors in partnership with State Governments with focus on manufacturing. Five Corridors namely, Delhi Mumbai Industrial Corridor (DMIC), Chennai-Bengaluru Industrial Corridor (CBIC), Amritsar Kolkata Industrial Corridor (AKIG), Bengaluru- Mumbai Economic Corridor (BMEC) and Vizag-Chennai Industrial Corridor (VCIC) have been planned for development by Government of India.

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Sabrimala Leasing And Holdings announces appointment of directors

Dec 08,2016

Sabrimala Leasing And Holdings announced Sahil Gandhi, Sumit Jindal and Monika Gupta, has been appointed as Independent Director of the Company for a period of five years and Shiv Kumar Garg has been appointed as Non-Executive Director of the Company with effect from 07 December 2016.

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Bharti Airtel launches two new packs for prepaid customers

Dec 08,2016

Bharti Airtel launched two new bundled packs for its prepaid customers with free voice calling and substantial data benefits.

Meanwhile, the S&P BSE Sensex was up 378.42 points or 1.44% at 26,615.29.

On the BSE, 63,186 shares were traded in the counter so far as against average daily volume of 1.57 lakh shares in the past one quarter. The stock had hit a high of Rs 578.60 and a low of Rs 571 so far during the day. The stock had hit a 52-week high of Rs 660 on 29 December 2015. The stock had hit a 52-week low of Rs 458.25 on 25 May 2016.

The stock had outperformed the market over the past one month till 7 December 2016, gaining 4.52% compared with the Sensexs 4.45% fall. The scrip had also outperformed the market in past one quarter, declining 1.78% as against the Sensexs 9.3% fall.

The large-cap company has equity capital of Rs 160.85 crore. Face value per share is Rs 2.

Cipla announced that it received final approval for its abbreviated new drug application (ANDA) for Entecavir Tablets USP 0.5 mg and 1 mg, from the United States Food and Drug Administration (USFDA).

Baraclude Tablets and generic equivalents had annual US sales of approximately $206 million for the 12 month period ending October 2016, according to IMS Health. The product will cater to the US market and will be commercially available in the coming weeks.

On a consolidated basis, Ciplas net profit dropped 34.7% to Rs 354.34 crore on 8.7% rise in net sales to Rs 3671.88 crore in Q2 September 2016 over Q2 September 2015.

Cipla is a global pharmaceutical company.

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PVP Ventures announces resignation of company secretary

Dec 08,2016

PVP Ventures announced that V. Ravi Kumar Reddy, Company Secretary and Compliance Officer has resigned from the Company effective from the closing hours of 07 December 2016.

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Jaguar Land Rover announces sales figures

Dec 08,2016

Jaguar Land Rover, the UKs leading manufacturer of premium luxury vehicles, reported its best ever November retail sales of 47,588 vehicles, up 2% compared to November 2015.

The year-on-year growth in retail volumes was driven by strong sales of the new Jaguar XF (with the addition of the long wheel base XFL in China) and F-PACE as well as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport, offset partially by the run-out of Land RoverDiscovery in advance of the all-new model in 2017.

Jaguar Land Rover delivered solid retail sales growth across the majority of key regions for November year on year, with China (up 42%) and North America (up 20%) partially offset by softer sales in theUK (down 13%), Europe (down 6%) and in other overseas markets, which include Russia and Brazil (down 25%). Jaguar Land Rover sold 527,937 vehicles in the first 11 months of 2016, 21% up on thesame period in the prior year.

Jaguar recorded its best November ever, with retail sales reaching 14,613 vehicles, up 83% compared to November last year, and driven by continuing strong sales of the new XF and the F-PACE. Calendar year-to-date sales for Jaguar were 132,381, up 75% year-on-year.

Land Rover recorded November sales of 32,975 vehicles, down 14% on November 2015, as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport were offset by lower volumes of the discontinued Land Rover Defender and outgoing Discovery. Calendar year-to-date sales for Land Rover reached 395,556 vehicles, 9% up on the prior year.

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Escorts shifts gears after compIeting divestment of auto products biz

Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 389.57 points or 1.48% at 26,626.44.

On the BSE, 90,000 shares were traded on the counter so far as against the average daily volumes of 3.79 lakh shares in the past one quarter. The stock had hit a high of Rs 329.45 and a low of Rs 322 so far during the day.

The stock had hit a record high of Rs 414.20 on 4 October 2016 and a 52-week low of Rs 112.70 on 12 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 10.56% compared with the Sensexs 4.45% fall. The scrip had, however, outperformed the market in the past one quarter, declining 5.23% as against the Sensexs 9.3% fall.

The mid-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.

Escorts had in August 2016, announced the divestment of its original equipment manufacturing (OEM) & export business of auto product division to Badve Engineering, Pune, in an all cash deal, as part of the planned strategic reorientation of the business to focus on core verticals in the agri machinery, construction equipment and railway equipment.

Net profit of Escorts rose 219.6% to Rs 31.29 crore on 21.7% rise in net sales to Rs 990.99 crore in Q2 September 2016 over Q2 September 2015.

Escorts is one of Indias leading engineering conglomerates. The company has diversified business interests catering to agri machinery, construction equipment and railway equipment divisions.

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Cabinet approves MoU between India and United Kingdom (UK) to support Ease of Doing Business in India

Dec 08,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the MoU between India and United Kingdom (UK) to support Ease of Doing Business in India. The MoU was signed earlier this month.

The MoU shall enable exchange of officials from both the Governments to facilitate sharing of best practises, offering technical assistance and enhanced implementation of reforms. The collaboration shall also cover State Governments in its ambit. The UK government has shown interest to offer expertise in the following areas:

a) Support to small businesses and start ups

b) Starting business and registration

c) Paying taxes and tax administration

d) Insolvency

e) Construction permits

f) Getting electricity

g) Risk based framework for inspection and regulatory regimes

h) Trading across the borders

i) Competition economics

j) Getting credit

k) Drafting of laws and regulations

I) Reducing stock and flow of regulation

m) Impact assessment of regulations

Currently, India is ranked 130th out of 190 economies (as per Doing Business Report, 2017). The UK Government has achieved phenomenal improvement in Ease of Doing Business (EoDB) rankings in recent years. The beneficiaries include the officials from Central Government Ministries / Departments and State Governments through sharing of best practises, capacity building etc. Each side shall bear the cost of travel and logistics for its officials as well as for co-hosting trainings/ seminar/conferences.

The MoU shall facilitate various agencies of the UK government to offer professional courses on better regulation drafting for officials, capacity-building of frontline inspectors, sharing of best practises, etc. The collaboration is expected to expedite adoption of innovative practises by the Government of India, State Governments and their agencies leading to easing of regulatory environment in the country and fostering of conducive business climate in India.

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Ducon Infratechnologies secures contract with Wienerberger India

Dec 08,2016

Ducon Technologies India (DTIPL), a Ducon Inc. group company underamalgamation with Ducon Infratechnologies announced its contractwith Wienerberger India. Wienerberger is a wholly owned subsidiary Wienerberger AG -the worlds largest producer of ceramic building products.

Wienerberger currently uses pet coke as its fuel for its Karnataka plant, and it has decided to control Suspended Particulate Matter (SPM) & Sulphur Dioxide (SO2) emanating from its plant to comply with thepresent emission norms.

As per the terms of the contract, DTIPL will install Ducons proprietary Dry FGD(Flue Gas Desulfurization) systems to remove SPM and other toxic components as to enable this transition. DTIPL has alreadycommenced the engineering process and is expected to establish this facility within the contractual execution period which is in FY17.

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Cipla receives ANDA approval for generic Baracluden++ tablets

Dec 08,2016

Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Entecavir Tablets USP 0.5 mg and 1 mg, from the United States Food and Drug Administration (USFDA).

Baracluden++ Tablets and generic equivalents had U.S. sales of approximately $206M for the 12 month period ending October 2016, according to IMS Health. The product will cater to the USmarket and will be commercially available in the coming weeks.

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Board of Rane (Madras) to consider December Q3 and 9M results

Dec 08,2016

Rane (Madras) announced that a meeting of the board of directors of the Company has been scheduled to be held on 23 January 2017 to consider and approve the Unaudited Financial Results (Standalone) for the quarter and nine months ending 31 December 2016.